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Carlos Ghosn in difficulty; Brexit business; China tech earnings




The revelation has major implications for the global automotive industry. Ghosn is also the leader of Renault and Mitsubishi Motors (MMTOF), and the driving force behind an alliance that ties the three car manufacturers.
Nissan (NSANY) said in a statement that Ghosn has for years underestimated his income in Japan. It said that "many other important actions have been uncovered", including personal use of the company's assets.

The Japanese automaker said it would seek to remove Ghosn as a leader. Japanese media reported that Ghosn was questioned by prosecutors and could be arrested.

"Nissan has provided information to the Japanese Public Prosecutor's Office and has collaborated fully with his investigation," Nissan said in a statement. "We will continue to do that."

Shares had ceased trading in Japan when the statement was released, but the Nissan shares in Frankfurt fell over 1[ads1]0%. Renault (RNSDF) stock trading in Paris doubled as much as 13%.

2. Brexit Support: Prime Minister Theresa May is likely to find a receptive audience Monday when she talks her Brexit deal at a meeting of the Confederation of British Industry.

John Allan, president of the influential business lobby, will support her agreement to withdraw from the EU, saying "minimizes the damage to our economy", according to a copy of his comments that were released in advance.

"While companies in this room will be the first to say it's not perfect, it opens a route for a long-term trade event and locks transition – the least that companies need to prepare for Brexit," he said was expected to say.

"So our message to politicians is this – listen to the constituencies of your constituencies – and all addicted to them," he adds.

The Pound strengthened 0.2% for trading at $ 1.28 On Monday, some of the losses clashed last week when key British prime ministers were told saying they would not support the deal. It must still be signed by the other 27 EU member states and the UK parliament.

3. Global Market Overview: US stock contracts were slightly changed.
European markets opened with gains of around 0.5%. Shares in Asia had a solid increase, which increased by as much as 1%.
Dow increased 0.5% on Friday and the S & P 500 gained 0.2%. Nasdaq cast 0.2%. For the week, all three main indices fell about 2%.

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4. Earnings and finances: Xiaomi Revenue Estimates Monday, in what should be a boost for the company's siege Hong Kong listed shares. The Chinese smartphone maker made a profit of 2.5 billion yuan (360 million dollars) for the three months ended in September. Revenue grew 49%.

Chinese e-commerce company JD.com (JD) will publish revenue before the US opens.
L Brands (LB), the parent company of Bath and Body Works and Victoria's Secret, will release earnings closely. The dealer's share is down 40% for the year.
One major problem is Victoria's Secret, which younger customers have left in favor of cheaper brands. This week, unconfirmed reports confirmed that CEO Jan Singer has withdrawn as a leader of the brand.
Intuit (INTU) and Urban Outfitters (URBN) will also report after the trip.

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5. This week is coming:
Monday
– L Brands, Urban Outfitters (URBN), JD.com Inc. (JD) Profit
Tuesday
– BJ Wholesale Club (BJ), Best Buy (BBY) , Barnes and Nobels (BKS), Campbell Soup (CPB), Target (TGT), TJX (TJX) and Gap (GPS) Earnings
Wednesday
– Deere & Co. (DE) Profit [19659024] Thursday – US Markets Closed for Thanksgiving
Friday
– Black Friday; US markets close early



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